Marcus & Millichap Brokers Sale of 792-Unit Self-Storage Facility in Chicago
CHICAGO — Marcus & Millichap has brokered the sale of Canal Street Self Storage in Chicago for an undisclosed amount. The 66,063-square-foot, 792-unit self-storage facility is located at 1601 S. Canal St. Canal Street Self Storage offers elevator access, 24-hour hour lockers, large truck and trailer access and two levels of docks for loading and unloading. The facility has a wide range of storage options such as eco-friendly storage containers, business documentation storage, climate-controlled units, uncovered boat/recreational vehicle parking spaces and wine storage. Sean Delaney and Michael Mele of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company based in the West.
792-Unit Self-Storage Asset Trades Hands in Chicago's South Loop
CHICAGO, May 17, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Canal Street Self Storage, a 66,063-square-foot, 792-unit self-storage facility in Chicago.
U-Haul Opens Two Self-Storage Locations in Milwaukee Suburbs
WAUKESHA, Wis. (May 9, 2017) — U-Haul is now serving do-it-yourself movers and self-storage customers at two new locations in Greater Milwaukee.
Population Growth, Rising Incomes Push Demand For Midwest Storage
Employment growth in Chicago and a steady increase in household formation pushes up the demand for more self-storage facilities, according to a report from Marcus & Millichap.
Self-Storage REITs Release Financial Results for First-Quarter 2017
The five largest publicly traded, U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Life Storage Inc., National Storage Affiliates Trust and Public Storage Inc.—have released financial statements for the quarter that ended March 31, 2017. In general, all five entities showed gains in key areas, particularly funds from operations (FFO) and net operating income (NOI), while also achieving increases in occupancy.